Final answer:
Kimberly's minimum monthly payment will increase by $48 if she wants to pay off her credit card in 16 months after charging an additional $1,600.
Step-by-step explanation:
To calculate how much Kimberly's minimum monthly payment will increase, we need to understand how minimum payments are typically calculated. The minimum payment is usually a certain percentage of the credit card balance. In this case, let's assume the minimum payment is 3% of the balance. First, we need to find out what is Kimberly's current credit card debt. Let's say it is D dollars. Her minimum payment would then be 0.03 dollars. Now, if Kimberly wants to pay off her credit card in 16 months after charging an additional $1,600, her new credit card debt would be D + 1600 dollars. Therefore, her new minimum monthly payment would be 0.03(D + 1600) dollars. To find out how much the payment will increase, we subtract her current minimum payment (0.03D dollars) from this new minimum payment: 0.03(D + 1600) - 0.03D = 0.03 * 1600 = $48. So, Kimberly's minimum monthly payment will increase by $48.